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By Moses Michira Central Bank of Kenya has distanced itself from the National Youth Service scandal, where an estimated Sh1.8 billion was stolen. Governor Patrick Njoroge said CBK only acted as a banker to the Government where it fulfilled its obligation to settle payment requests from ministries and departments. Suspect payments were made from bank […]

Kenya Airways employees have opposed the move by a construction company to stop compensation of Sh2.5 billion awarded to them by an arbitrator for houses. The 312 workers say they had paid 10 per cent deposit to Epco Builders and the balance was to be released upon completion of the houses. They had entered into […]

Equity Group’s mobile money platform Equitel has recorded a 6,470 per cent growth in loan disbursements since its launch in July 2016. Speaking during the release of the 2016 half year financial results, Equity Group Holdings CEO Dr. James Mwangi said Equitel had processed loans worth Ksh.20.8 billion as at the end of June 30 […]

Large banks will protect their profit margins by pushing more loans if capping of interest rates is introduced, an international rating agency has said. Fitch Ratings noted large banks would be better placed than their smaller rivals to deal with the sharp reduction in net interest margin. “Large players, with stronger franchises and more diverse […]